Pakistani start-up QisstPay expanding to Bangladesh, Sri Lanka
QisstPay, a shop-now, pay later start-up based in Pakistan, aims to expand to Bangladeshi and Sri Lankan markets within the next six months.
It has recently secured $15 million in funding. Bloomberg said that MSA Capital led the investment, which also included Global Founders Capital, Fox Ventures, and First Check Ventures.
QisstPay further stated that by next month, it expects to have 1,000 more merchants in its portfolio and a million consumers by 2022. At present, it works with "retailers including the local units of Samsung Electronics Co and Xiaomi Corp".
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The start-up was co-founded by former US citizen Jordan Olivas, a former employee of Klarna, told Bloomberg, "We want to be in all the places where people think it's a tough place to start a business."
QisstPay's investors include "strategic angel investments from Simone Mancini and Johnny Mitrevski, founders of Scalapay, and the United Bank Ltd".
The startup has done two fund-raising rounds, including equity and debt, since starting in April, according to Bloomberg.
